Cambridge O Level/ IGSCE Accounts Notes Archives - Page 10 of 19

Cambrige Notes: The Cash Book
Cambrige Notes: The Cash Book

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: The Cash Book

By Garikai Dzoma|2025-02-12T08:59:27+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cash Book Example. Frank Wood's Business Accounting I Cash Book Example. Frank Wood’s Business Accounting I

ZIMSEC O Level Principles of Accounts: Books of Original Entry: Cash Book

The Cash Book consists of the cash account and the bank account put together in one book.
The result is that all monies paid […]

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Cambrige Notes: Double Entry Exercise and Solutions
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Cambrige Notes: Double Entry Exercise and Solutions

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Double Entry Exercise and Solutions

By Garikai Dzoma|2025-02-12T09:02:48+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

ZIMSEC O Level Principles of Accounts: Double Entry Exercise and Solution[/title

You are required to open the asset and liability and capital accounts and record the following transactions for June 20X8 in the records of T. Moyo. 20X8

June 1 Started business with $12,000 in cash.
2 Paid $11 700 of the opening cash into a bank account for […]

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Cambrige Notes: Sole Trader: Simple Statement of Financial Position Example 1
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Cambrige Notes: Sole Trader: Simple Statement of Financial Position Example 1

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Sole Trader: Simple Statement of Financial Position Example 1

By Garikai Dzoma|2025-02-12T09:06:10+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Sole Trader: Simple Statement of Financial Position Example 1

From the following trial balance of S Madondo, extracted after one year’s trading, prepare a trading and profit and loss account for the year ended 31 December 20X6 and a Statement of Financial Position as at 31 December 20×6

Inventory at 31 […]

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Cambrige Notes: Principles of Accounting: Introduction to Accounting ratios
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Cambrige Notes: Principles of Accounting: Introduction to Accounting ratios

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Introduction to Accounting ratios

By Garikai Dzoma|2025-02-12T09:23:08+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Introduction to Accounting Ratios

Introduction to ratios in Accounting

Often in business numbers given in isolation are difficult to interpret
For example Business A makes a profit of $10 000 while Business B makes a profit of $10 million
It would be difficult to know which business better between the two
Those […]

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Cambrige Notes: Principles of Accounting: Partnership Dissolution Entries
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Cambrige Notes: Principles of Accounting: Partnership Dissolution Entries

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Partnership Dissolution Entries

By Garikai Dzoma|2025-02-12T09:26:34+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Accounting for Partnerships: Partnership Dissolution Entries

While the dissolution of each partnership is no doubt unique
There are entries that are typical to the dissolution of each partnership
During dissolution the following entries are typically made:
1. When we transfer provision such as for bad debts/depreciation to their respective asset accounts:

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Cambrige Notes: Principles of Accounting: Accounting for non profit organisations
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Cambrige Notes: Principles of Accounting: Accounting for non profit organisations

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Accounting for non profit organisations

By Garikai Dzoma|2025-02-12T09:29:45+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Accounting for non profit organisations

While it is true that the majority of entities exist primarily to make a profit
There are still a large number of organisations which are not for profit
While profit is the overriding aim in for profit business
Non profit organisations are driven by other goals […]

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Cambrige Notes: Principles of Accounting: Disposal of Fixed Assets Example
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Cambrige Notes: Principles of Accounting: Disposal of Fixed Assets Example

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Disposal of Fixed Assets Example

By Garikai Dzoma|2025-02-12T09:32:52+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Disposal of Fixed Assets Example

Now that we have looked at the entries required to record depreciation
It is time to look at a simple example:

A business whose financial year ends at 31 December purchased on 1 January 20X7 a machine for $5,000. The machine was to be depreciated by ten […]

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Cambrige Notes: Principles of Accounting: Making entries in the Sales Ledger
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Cambrige Notes: Principles of Accounting: Making entries in the Sales Ledger

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Making entries in the Sales Ledger

By Garikai Dzoma|2025-02-12T09:36:11+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Making entries in the Sales Ledger

In this example we will make entries into the Sales Ledger, Cash Book and General Ledger
We will be skipping the books of original entry
Although this is not how things are done in practice
Examination/Exercise question might ask you to make double […]

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Cambrige Notes: Sole Trader: Simple Statement of Financial Position Example 2
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Cambrige Notes: Sole Trader: Simple Statement of Financial Position Example 2

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Sole Trader: Simple Statement of Financial Position Example 2

By Garikai Dzoma|2025-02-12T09:39:37+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Sole Trader: Simple Statement of Financial Position Example 2

From the following trial balance of J Nhiwatiwa after his first year’s trading, you are required to
draw up a trading and profit and loss account (Income Statement) for the year ended 30 June 20X8 as well as Statement of Financial Position as at […]

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